INTERDEPARTMENTAL MEMORANDUM
Asset Management Directive #1
| To: | Chief Administrative and Fiscal Officers, Business Managers and Asset Management Personnel |
| From: | Brenda K. Halpin, Director |
| Administrative Services Division | |
| Office of the State Comptroller | |
| 55 Elm St., Hartford, CT 06106 | |
| Date: | June 17, 2009 |
| Re: | Real Property Assets and Revised CO-59 Form |
Purpose
The purpose of this Asset Management Directive #1 is to clarify the recording of
real property assets and fine art within Core-CT and to advise agencies of a
revised CO-59 that is to be used for FY 2009 reporting.
General Information
When the Asset Management module was implemented in Core-CT in July 2005 the
land and buildings data was converted by the Office of the State Comptroller
from the data that resided in the JESTIR system and our legacy land system. All
of the locations were given a specific "AJES" location to identify the locations
as land or buildings. When new land or buildings were acquired we worked
directly with most agencies that were purchasing real property to establish them
in Core-CT; however, a formal procedure was not provided to State agencies. This
directive is to correct that situation going forward.
The Administrative Services has completed a thorough review of the data reported on the CO-59 reports for FY 2008 compared to the data in Core-CT. There are several areas that need to be addressed: land and buildings, site improvements, leased property improvements, construction in progress and fine art. Many agencies have reported site improvements, leased property improvements, construction in progress and fine art but the data was not converted into Core-CT. Your assistance is required to correct this inconsistency within Core-CT. Please contact our Office by sending an email to osc.assets@po.state.ct.us if you need assistance on how this should be accomplished. We will be contacting each agency that has not properly converted their data.
The CO-59 form has been changed to eliminate a separate dollar amount for buildings in column #7 Present Value This Year. This field which was used for insurance purposes has created confusion between the cost and value of buildings over the years. The Insurance and Risk Management Board is now managing this data to comply with the State's Insurance Carrier underwriting guidelines. The revised CO-59 form is available at http://osc.ct.gov/agencies/forms .
Procedure For Acquiring New Land Or A Building
When acquiring land or a building please contact our office to provide an AJES
location code. Send an email to osc.assets@po.state.ct.us and provide the
following information: the street address of the land or building; if it is a
building enter the information in the JESTIR system first, then provide us with
the JESTIR number; if the building or land has a name, then provide that
information as well and finally the total cost of the asset.
A response will be sent to you within 3 business days so that the new land or building can be properly entered into Core-CT. If your agency has purchased real property over the past four years and an "AJES" location was not provided please contact the osc.assets@po.state.ct.us mailbox so that we can identify the next steps.
Procedure for Site Improvements and Leased Property Improvements
Each site improvement (generally means improvements made to State owned land)
and leased property improvement (generally means improvements made to leased
property which is a building not owned by the State) should be a separate record
in the Asset Management module within Core-CT. If you have a large number of
site improvements or leased property improvements that were not converted into
Core-CT please contact my Office at osc.assets@po.state.ct.us for guidance.
With each new site improvement or new leased property improvement please use the integrated purchasing, receiving and accounts payable work flow to transfer the data into the Asset Management module.
Procedure for Construction in Progress
Generally most construction in progress is reported by the Department of Public
Works, except for agency specific projects. Any questions regarding how a
project should be included contact osc.assets@po.state.ct.us for assistance.
Procedure for Entering Fine Art
Each fine art asset should be a separate record in the Asset Management module
within Core-CT. If you have a large number of fine art assets that were not
converted into
Core-CT please contact my Office at osc.assets@po.state.ct.us for guidance.
When obtaining a new fine art asset please use the integrated purchasing, receiving and accounts payable work flow to transfer the data into the Asset Management module.
Conclusion
The above information pertains only to the Executive Branch agencies that are
using the Asset Management module in Core-CT.
The Property Control Manual will be finalized over the next several months and will be made available electronically on the OSC website.
We have made significant progress over the past several years since the Asset Management module was implemented in Core-CT. The learning curve has been steep but we are all making great strides to master this module and the EPM reporting capabilities. Our goal is to have the data in Core-CT accurately reflect the data being provided on the CO-59 by fiscal year end 2010. Administrative Services is available to provide assistance at any time by contacting our osc.assets@po.state.ct.us mailbox or calling (860) 702-3440.